The Australian share market continued its slide south this morning as crashing copper prices led Wall Street lower overnight, this was pushed along by weaker than expected retail sales figures from the US.
Closer to home and according to the ABS the unemployment rate dropped in December, down to 6.1 per cent. The positive news helped the Aussie dollar push towards $US0.82.
The S&P/ASX 200 index is 35 points down at 5,319. On the futures market the SPI is 35 points lower.
Economic news
The Australian Bureau of Statistics has released Labour force figures for December showing employment increased by 37,400 jobs led by strong growth in full time jobs pushing the unemployment rate down to 6.1 per cent.
Company news
Djerriwarrh Investments Limited
(ASX:DJW) has reported a 10 per cent drop in first half net profit down to $19.8 million.
The investment company says turbulence in commodity and energy markets led those sectors lower and made for challenging investement conditions. Looking forward the company is optimisitc about prospects in the US while other regions are looking more volatile. Shares in Djerriwarrh are trading up 0.43 per cent at $4.65.
Shares in Golden Rim Resources Limited
(ASX:GMR) have jumped more than 10 per cent today as it announces new gold find at Korongou.
The gold miner says the new gold anomolies at its site in Burkino Faso are high qaulity and are part of an ongoing exploration program. Shares in Golden Rim are trading up 11.11 per cent at $0.01.
Best and worst performers The best performing sector is health care, gaining 0.3 per cent to 17,496. Shares in Cochlear Limited
(ASX:COH) have risen 0.91 per cent and trading at $79.96. Shares in ResMed Inc
(ASX:RMD) and Mesoblast limited
(ASX:MSB) are also stronger.
The worst performing sector is materials, falling 1.5 per cent to 8,260. Shares in Western Areas Limited
(ASX:WSA) have fallen 6.56 per cent, trading at $3.56. Shares in Sirius Resources NL
(ASX:SIR) and Independence Group NL
(ASX:IGO) are also lower.
Gold and the dollar
Gold is trading at $US1,232 an ounce.
The Australian dollar is buying $US0.8195.
